Prince says record contracts are just like slavery

The iconic singer is partnering with Jay Z's TIDAL to exclusively stream his new album.

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August 10, 2015 6:48PM (UTC)

The artist currently known as Prince has joined the chorus of musicians criticizing the state of the music industry, comparing record contracts to slavery during a press event promoting his partnership with Jay Z’s TIDAL.

"Record contracts are just like — I'm gonna say the word – slavery," the artist said at the event at his own Paisley Park Studios, according to NPR. "I would tell any young artist...don't sign.”

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Prince’s music can now be found exclusively on TIDAL after the artist removed his music from streaming sites like Spotify in July. The music legend then went on to praise Jay Z and TIDAL for building a streaming service that puts artists front and center.

There were no recording devices allowed in the event, but NPR reports that Prince "talked about how his deal with Jay Z still gave him the freedom to collaborate with other artists on songs which might appear elsewhere, stressing the importance of artists controlling as much of the revenue from their work as possible."

"Once we have our own resources, we can provide what we need for ourselves," he continued. "Jay Z spent $100 million of his own money to build his own service. We have to show support for artists who are trying to own things for themselves.”

Prince's new album, HITNRUN, will stream exclusively on TIDAL in September along with the CD release.